Entergy net rises 10% on stronger pricing

NEW ORLEANS (AP) -- Entergy Corp.
ETR, -0.03%
on Thursday posted a 10% rise in first-quarter earnings as higher pricing in its nuclear energy business helped offset cost inflation at its utility operations.

The energy company's net income grew to $212.2 million, or $1.03 a share, from $193.6 million, or 92 cents a share, in the prior-year period.

On average, analysts surveyed by Thomson Financial expected earnings of $1.04 a share in the first quarter.

Revenue edged up 1% to $2.6 billion from $2.57 billion a year ago.

Earnings at the company's utility, parent and other operations fell 21% to $89.5 million. Although the business benefited from sales growth and cooler weather, those gains were largely offset by higher operational costs, as well as depreciation and interest expenses on debt incurred to pay for rebuilding after hurricanes Katrina and Rita ravaged the New Orleans region in 2005.

Entergy's nuclear business saw earnings surge 57% to $128.2 million on higher pricing.

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